<p data-end="246" data-start="85">Castle Hill’s booming development market is set for another boost, with builder-developer Buildex proposing a new mid-rise apartment building near Castle Towers.</p>

<p data-end="467" data-start="248">Buildex has submitted plans to The Hills Shire Council for a <a href="https://www.apartments.com.au/new-apartments/197-old-northern-road-castle-hill-nsw-2154">nine-storey building comprising 57 apartments</a> on Old Northern Road. The company acquired two adjoining sites earlier this year, totalling more than 2,683 sqm.</p>

<p data-end="597" data-start="469">Texco Design has prepared the scheme, which includes five one-bed plus study apartments, 37 two-bedrooms, and 15 three-bedrooms.</p>

<p data-end="836" data-start="599">Castle Hill has become a hotspot for developers in recent years, undergoing significant transformation driven by the opening of the Hills Showground Precinct to development and the introduction of two metro stations servicing the suburb.</p>

<p data-end="1053" data-start="838">Developers including Deicorp and Kassis Homes have already completed projects, and are progressing future developments, while Meriton, Arada, and Ellipse are currently delivering new projects in the rapidly evolving area.</p>


Staff Writer

First look: Buildex plans 57 apartments near Castle Towers

<p>Gold Coast developer&nbsp;<a href="https://www.apartments.com.au/developers/immerse-projects">Immerse Projects</a>&nbsp;has unveiled what it intends to deliver at its recently acquired Toowong site, its debut apartment development in Brisbane.</p>

<p>Immerse, founded by John Kearney who is also the founder of regarded construction company Greyburn, secured the prime Sylvan Road site <a href="https://www.apartments.com.au/news/qld/first-look-immerse-projects-moves-into-brisbane-apartment-market-with-toowong-site-acquisition">earlier this year</a>, in an area which has historical significance to Kearney who&nbsp;studied at the nearby University of Queensland.</p>

<p>"It feels like a full circle moment," Kearney told&nbsp;<a href="https://www.apartments.com.au/" target="">Apartments.com.au</a>.&nbsp;</p>

<p>“I spent many nights at the Regatta Hotel just down the road, as have most people in&nbsp;<a href="https://www.apartments.com.au/developments/brisbane-qld" target="">Brisbane</a>. It’s one of the city’s most well-known hotels, and with several cafes, restaurants, and a CityCat stop nearby, it’s become an even more attractive place to live.”</p>

<p>He is planning a <a href="https://www.apartments.com.au/new-apartments/22-24-sylvan-road-toowong-qld-4066">15-storey project with 88 apartments</a> above an activated ground plane with a shop and hospitality spaces.</p>

<p><img alt="Toowong podium" data-entity-type="file" data-entity-uuid="c350436b-9d64-46cc-ab6f-defc009e1b65" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/podium_0.png?VersionId=zt7A0_14M62TkZ61YHnGmEck9KM9HqDA" /></p>

<p>The architecture, led by <a href="https://www.apartments.com.au/interior-designers/bda-architecture">BDA Architecture</a>, presents a tower massing that responds to the area's evolving mid-rise context. The scheme incorporates podium and rooftop communal spaces, while the commercial elements aim to activate the Sylvan Road frontage and enhance the site's interface with the adjacent parkland.&nbsp;</p>

<p>Landscaping plans by Ivy May Landscape Architects include subtropical planting and deep soil zones to support stormwater management and visual integration.</p>

<p>Supporting documentation from Mewing Planning Consultants notes that "the proposed development will deliver a mixed-use outcome that enhances the vibrancy of the Sylvan Road corridor" and highlights its proximity to high-frequency public transport and community facilities.</p>

<p><img alt="First look: Immerse Projects moves into Brisbane apartment market with Toowong site acquisition" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/22-24%20Sylvan%20%20Rd%20Toowong_Markups.jpg?VersionId=u4_IGzpYLPFfAZSsgCZynov3bm7umwJ." /></p>

<p>&nbsp;</p>

<p>There's been little new apartment development in Toowong in recent years. The most notable is Consolidated Properties two-tower Monarch Residences, which is approaching completion with nearly all of its 224 residences sold.</p>

<p>Kearney describes&nbsp;<a href="https://www.apartments.com.au/developments/toowong-qld-4066" target="">Toowong</a>&nbsp;as a suburb with real depth.</p>

<p>"The suburb attracts everyone, from students to retirees, and that's what makes it interesting."</p>


Joel Robinson

First look: Immerse Projects reveals debut Brisbane apartment development in Toowong

<p><a href="https://www.apartments.com.au/developers/hyecorp-property-group">Hyecorp</a> is down to its final three-bedroom apartments at Audrey, the developer’s parkside St Leonards South project, pairing the remaining homes with a limited-time offer.</p>

<p>The developer is extending a five per cent deposit and a $50,000 settlement rebate on selected apartments, aiming to help owner-occupiers secure one of the final homes ahead of move-in in early 2026.</p>

<p>[smartcode_project:default project_id=110379 project_image_fid=311393]</p>

<p>Located on Canb​erra Avenue opposite Newlands Park, <a href="https://www.apartments.com.au/new-apartments/audrey-st-leonards-13-19-canberra-avenue-st-leonards-nsw-2065">Audrey</a> comprises 102 residences, including a mix of three-bedroom residences and a double-storey, five-bedroom terrace with two outdoor areas.&nbsp;</p>

<p>Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a> and delivered by <a href="https://www.apartments.com.au/builders/north-shore-property-construction">North Shore Property Construction</a>, the project reflects Hyecorp’s focus on owner-occupier planning, with open-plan layouts, extensive storage integration, and a material palette built around stone, oak timber flooring and bespoke joinery. Many of the three-bedroom apartments capture views toward the city and Harbour Bridge.</p>

<p>[smartcode_project:default project_id=110379 project_image_fid=207373]</p>

<p>Hyecorp’s internal design team, Jackson Teece, has emphasised a consistent level of specification across the building, including Miele appliances, integrated refrigeration, brushed metal tapware and large-format stone detailing that conceals cabinetry.</p>

<p>The Tiffany Collection, crowning the development on Levels 12 to 15, features added luxury of fluted standalone baths, heated bathroom floors, custom walk-in robes and upgraded appliance packages across its spacious 155 to 159 sqm homes.</p>

<p>[smartcode_project:default project_id=110379 project_image_fid=301367]</p>

<p>Beyond the private residences, Audrey carries a strong amenity focus. Residents have access to an indoor lap pool and spa, personal training studio, private cinema, music room and private dining room.</p>

<p>A landscaped rooftop terrace with CBD views anchors the communal offering, complemented by an onsite café and an integrated daycare centre within the project.</p>

<p>[smartcode_project:default project_id=110379 project_image_fid=198680]</p>

<p>The location continues to be a drawcard for buyers, with new retail additions at Mall 88, including Coles, alongside Woolworths and the established offerings of Forum Plaza. St Leonards Station and Crows Nest Metro is within easy reach, as are local health precincts such as the Royal North Shore Public and Private Hospitals. Nearby green spaces include Newlands Park, Gore Hill Oval and Naremburn Park, supporting strong day-to-day amenity for families and downsizers alike.</p>

<p>Hyecorp is expected to welcome residents to Hyecorp in early 2026.</p>

<p>[smartcode_project_cta:default project_id=110379]</p>


Audrey St Leonards nears completion – settlement bonus now available

<p><a href="https://www.apartments.com.au/developers/freecity">Freecity</a>&nbsp;has been given the green light to develop its flagship mixed-use project in the Crows Nest metro precinct.</p>

<p>The NSW Government's Housing Delivery Authority approved the 40-storey tower, aligning with the NSW Government's Transport Oriented Development (TOD) agenda to deliver more homes in highly connected, high amenity locations.</p>

<p>The $600 million tower, at 378-398 Pacific Highway, will comprise 178 apartments with resident amenities, two levels of commercial offices, and a curated retail offering. Freecity will also dedicate a 10 percent Affordable Housing Contribution, supporting the Governments broader housing objectives.</p>

<p><img alt="Freecity Crows Nest" data-entity-type="file" data-entity-uuid="4de9b03b-e8aa-4929-b3f1-6747acbe6b73" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Freecity%20Crows%20Nest%20Project.jpg?VersionId=oWwFWxGj_oUFEYX4j_qRFdSzcShLw3DG" /></p>

<p>Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the tower will offer a diverse residential mix, from one-bedroom homes to expansive four-bedroom penthouses, all crafted to maximise light, views and liveability.</p>

<p>Lawrence Zheng, Co-Founder and Joint CEO of Freecity Group, said the approval represents a significant step forward for both Crows Nest and Freecity.</p>

<p>"We are proud to be delivering a landmark project that brings new homes, new amenity and new economic activity to one of Sydney’s most strategically connected locations,"&nbsp;Zheng said.</p>

<p>"With our $6 billion pipeline of 12 mixed-use projects, this development reinforces Freecity’s commitment to helping deliver the housing supply and transport-integrated precincts the Government is championing.”</p>

<p>Michael Romano, Executive Director of Development, said the companies focus is on "creating places that genuinely enhance how people live day to day - communities that balance accessibility, amenity and neighbourhood vibrancy.”</p>

<p>“This project reflects the future of urban living - design led, highly liveable and seamlessly connected to the city’s major transport, employment and education hubs. Being directly opposite the Crows Nest Metro means residents can access the best of Sydney with unrivalled convenience."</p>

<p>&nbsp;</p>


Freecity secures approval for Crows Nest metro precinct tower

<p>The Bedford by Mosaic marks the culmination of a near-decade journey for South East Queensland’s most active developer.</p>

<p>Mosaic Founder and CEO, Brook Monahan, said the company first identified the prime Prospect Street, Kangaroo Point site in 2016 as an A-grade opportunity they were eager to secure. They almost bought it at the time, before it was ultimately acquired by Woolworths’ development arm, Fabcot.</p>

<p>The opportunity resurfaced late last year when the site, vacant for nearly three decades, was offered for sale again.</p>

<p>Backed by years of history, feasibility research, and detailed product planning for the 3,195 sqm corner site, Mosaic was able to move swiftly. The Bedford by Mosaic is now proving a clear market success, unsurprising given the depth of work the developer had undertaken on the location and potential density mix well before they owned the land.</p>

<p>Active across both Brisbane and the Gold Coast, and with a development pipeline more than $2 billion, Mosaic has already sold 90 per cent of apartments in what has become the area’s most significant residential addition in more than a decade.</p>

<p>[smartcode_project:default project_id=134792 project_image_fid=328119]</p>

<p>Designed by BDA Architecture, The Bedford comprises 128 two- and three-bedroom apartments, including the Masterpiece Series Skyhomes across the top two levels. These residences offer the largest floorplans and the best views over the river and city. Premium inclusions—such as natural stone benchtops, bespoke cabinetry, and Miele appliances, feature in every apartment, not just the top-tier offerings.</p>

<p>A defining feature of The Bedford is its integrated mixed-use component, set to deliver Kangaroo Point’s first Woolworths supermarket, along with a café and liquor store, bringing long-awaited convenience to the peninsula.</p>

<p>[smartcode_project:default project_id=134792 project_image_fid=355673]</p>

<p>Residents will also enjoy one of Brisbane’s most comprehensive amenity collections. Dubbed the Rooftop Recreation &amp; Retreat Sky Terrace, the wellness-focused spaces include a resort-style pool with sun deck, an indoor/outdoor gym, spa, sauna, steam room and cold plunge.</p>

<p>Additional amenities include a residents’ lounge and relaxation zones, a private dining room with kitchen, barbecue areas, landscaped gardens, an outdoor viewing deck capturing city and river views, and a bookable golf simulator.</p>

<p>[smartcode_project:default project_id=134792 project_image_fid=355681]</p>

<p>The remaining residences at The Bedford span the upper levels of the building and include two- and three-bedroom floorplans, which start from $1,645,000.</p>

<p>Mosaic's in-house building arm has already commenced construction on The Bedford. They estimate a late 2027 completion.</p>

<p>[smartcode_project:default project_id=134792 project_image_fid=328121]</p>

<p>Monahan notes that Mosaic’s most successful projects often begin years before the first plans are drawn. Their new South Brisbane development is no exception, initially making it onto their radar in 2018.</p>

<p>“We aren’t opportunistic,” Monahan says. “Every site purchase is well considered and thought out. As seen with Kangaroo Point and South Brisbane, it can take years to eventuate. There are sites we are looking at now that we might not secure for several years.”</p>

<p>Mosaic is set to launch its new South Brisbane project&nbsp;in the next year, while its latest Gold Coast development,&nbsp;<a href="https://www.apartments.com.au/new-apartments/josephine-by-mosaic-166-the-esplanade-burleigh-heads-qld-4220">Josephine</a>, is coming soon to Burleigh Heads.</p>

<p>[smartcode_project_cta:default project_id=134792]</p>


A decade in the making: Mosaic's long-awaited success story at The Bedford, Kangaroo Point

Loss-making

<html><body>
<p>West Coast Eagles star Nic Naitanui has made a big loss on his former Perth home.</p>

<p>The Swan View residence, which became an $800 a week rental following his upgrade in 2016, has sold for $900,000, having cost $1,285,000 in 2012.</p>

<p>It took a while to find its buyers since he'd been seeking offers over $900,000 since early in 2019 as Perth endures the long downturn following its mining boom price spike.</p>

<p>The two level entertainer on an 855 square metre hilltop parcel north east of Perth has four bedrooms, two bathrooms, a theatre room and a rear swimming pool.</p>

<p>It sold through Realmark Urban agent Holly McSweeney.</p>

<p>Naitanui, who made his debut for the Eagles in 2009 after being the number two draft pick a year earlier, upgraded homes in 2016.</p>

<p>He spent $3 million on a five bedroom home with swimming pool in Mount Lawley.</p>
</body></html>

Nic Naitanui has made a big loss on his former Perth home, nearly -$300,000.

jchancellor

West Coast Eagles star Nic Naitanui sells at Swan View

<html><body>
<p><span>Investors in the TV property guru Kevin McCloud’s eco-friendly housing ventures face losing nearly all their money.</span></p>
<p>Between 2013 and 2017, McCloud wooed investors with crowdfunding schemes that promised returns of up to nine per cent a year from his Happiness Architecture Beauty (HAB) homes businesses.</p>
<p>The UK Guardian reported - in an extraordinary parallel with his TV series participants – HAB has been hit by budget overruns, construction problems and relationship bust-ups.</p>
<p>McCloud, 60, has presented the Channel 4 series Grand Designs since its launch in 1999.</p>
<p>He set up HAB Housing in 2007 “to challenge the way identikit volume housing was built in the UK”.</p>
<p>Around 650 investors put in £1.9 million in 2013, which at the time was a crowdfunding world record.</p>
<p>Those investors are yet to receive a penny, however the investors who put money in to the project in 2017 are likely to be worse off.</p>
<p>As a worse case scenario, HAB have said those who put a total of £2.4million into one bond two years ago will lose between 74 per cent and 97 per cent.</p>
<p>A recent letter warns that HAB Land would be unable to continue to trade without a further injection of funds.</p>
<p>McCloud himself sent out a separate letter in July to the 2013 crowdfunding investors stating that “the numbers” were “serious”, adding: “HAB Housing currently owes just under £1.6 million to HAB Land.</p>
<p><span>He also faces demands for repayment from a restructuring company that has taken control of part of his business.</span></p>
</body></html>

j.ballantyne1990-6AQqhLzZaK

Investors in Grand Designs' McCloud property projects face huge losses

<html><body>
<p>Big names, big losses. Imagine taking a $500,000 hit on your house resale.</p>
<p>That's the largest loss yet taken by Sydney sellers in the property market downturn now taking hold.</p>
<p>The $500,000 price woes are shared equally on a sale at Warrawee and Castle Cove.</p>
<p>Jerry Ren, the now bankrupt former oil and gas entrepreneur Jerry Ren took a $500,000 loss when <a href="https://chiltonrealestate.com.au/m290/27-29-chilton-parade-warrawee" target="_blank">Bremon, the Warrawee trophy home</a> (top) sold recently for $11 million. The vast home, once dubbed the Chilton Hilton, had been bought by Ren, described as the Northern Territory's first billionaire, for $11.5 million eight years ago.</p>
<p class="first-para">It was the Waitan Restaurant, Haymarket restauranteur Kai Meng who took a $500,000 loss on his Castle Cove home resale, selling off-market for $5.5 million (below).</p>
<p class="first-para"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/11/12/neerim1.jpg" alt=""></p>
<p class="first-para">The property had cost $6,006,666 in 2011. Ofcourse after other costs including $360,000 stamp duty on purchase and around $115,000 on estate agent commissions the total loss would have neared $1 million.</p>
<p class="first-para">The grand six-bedroom residence, built in the late 1990s, is set on 2500 square metres of Neerim Road waterfront reserve. The Waitan Group’s windup has seen debts owed to the Australian Tax Office.</p>
<p class="first-para">The property pain is emerging amid vendors across Sydney, although CoreLogic stress it is hitting the top end the most.</p>
<p class="first-para">Values are down<span> 8.6 percent amid <span>the top percent of the market compared to a 4.6 percent drop amid the cheapest quartile.</span></span></p>
<p class="first-para"><span><span>The top nine known losses have seen prices fall by between 8.3 percent and 0.5 percent.</span></span></p>
<p class="first-para"><span><span>But lesser losses are emerging among the suburbs. Cricketer Nathan Lyon recently stumbled with a $15,000 Vaucluse apartment price drop. </span></span></p>
<p class="first-para">Around 3 percent of Sydney house sales have been at a loss, in the last quarter survey by CoreLogic, and 3.5 percent of apartments.</p>
<p class="first-para">CoreLogic first calculated Sydney prices were falling in September last year, with actual losses quickly following.</p>
<p class="first-para">The downturn followed a five year period when prices peaked with some 78 percent growth.</p>
<p>In Sydney the declines over the past year has seen median home prices fall by around $70,000.</p>
<p>In percentage terms, the 7.4 percent annual dwelling decline in Sydney was the largest since February 1990.</p>
<p class="x_xmsonormal"><span>"Sellers who are motivated and willing to meet the market essentially reset price points, so even if you’re a little stubborn as a seller and want to hold onto your price, unfortunately you are now at the mercy of others who are dropping prices to meet buyer demand," inner west agent Matt Hayson said.</span></p>
<p class="m_9220578303431124550gmail-x_xmsonormal">"The market has certainly slipped faster than most forecast," agent Matt Hayson said, noting the recent 7.4 percent Sydney price decline data.</p>
<p class="m_9220578303431124550gmail-x_xmsonormal">"It hasn’t been just the speed of the decline but also how far it has moved too.</p>
<p class="m_9220578303431124550gmail-x_xmsonormal">"I think a few articles suggested we are back to 2016 prices but I’d suggest it’s 2015 prices already and continuing to drop," he said.</p>
<p class="m_9220578303431124550gmail-x_xmsonormal">"Auctions are largely not working. </p>
<p class="m_9220578303431124550gmail-x_xmsonormal">"I’m seeing more and more auction delays given the incredibly tough restrictions on pretty safe bet home loan applicants.</p>
<p class="m_9220578303431124550gmail-x_xmsonormal">"If you place your property on the market, you’d want to prepare yourself mentally for a roller coaster and in most cases very weak feedback with the likelihood of one or maybe two buyers willing to make an offer."</p>
<p>Matt Hayson said homeowners who were selling recently purchased properties were in a vastly different position from those selling homes owned for decades.</p>
<p>“And for people who don’t own a home, it is a good chance to get into the market.” </p>
<div>The pricey Palm Beach saw its second resale at a loss last month.</div>
<div> </div>
<div>Christian Ainsworth, of the aristocrat pokie machine family, took a <a href="https://www.realestate.com.au/sold/property-house-nsw-palm+beach-129620950" target="_blank">$400,000 loss on his Palm Beach retreat</a> (below).</div>
<div> </div>
<div><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/11/12/ocean.jpg" alt=""></div>
<div> </div>
<div>He paid $3,425,000 for the four bedroom dress circle Ocean Road property in 2013 and sold for $3,025,000 through BresicWhitney agent Adrian Oddi.</div>
<div> </div>
<div>"The vendor <span><span>was very happy with the price achieved and the timeframe," Oddi said. </span></span>
<p>“Remember 50 percent of Sydney properties have no buyers. The other 50 percent might have one buyer. That’s the reality,” Oddi said.</p>
</div>
<div>Indeed Ainsworth had been conditioned to expect an even bigger loss having a $2.9 million price guide for the 1960s home.</div>
<div> </div>
<div>There was a $2.5 million sale recently of a hillside Palm Beach weekender that previously sold at $2.55 million in 2005.</div>
<div> </div>
<div>There had been a foreboding big loss at neighbouring Whale Beach late last year when the retiring Dow Chemicals chief Andrew Liveris sold his ’70s-style beach house for $3.33 million to his neighbour.</div>
<div> </div>
<div>The home, neglected by its absentee owner, had cost $3.675 million in pre-GFC 2006, highlighting how the luxury second home market was hot hard and long after the global financial crisis. Liveris took a $345,000 loss on the 1,110 sqm Whale Beach Road property which slopes down to the ocean.</div>
<div>
<div> </div>
<div>Boom time off the plan exuberance has emerged as a weak spot for prices.</div>
<div> </div>
<div>Last month the online publisher Jackie Maxted lost $200,000 in the resale of a penthouse in the warehouse conversion of the iconic Griffiths Tea building in Surry Hills.</div>
</div>
<div class="in-content-ad">
<div> </div>
<div>Maxted, who founded the Beauty Heaven website, paid $4 million off the plan in 2015 for New York-style Federation warehouse apartment. She rquietly sold the two level, three bedroom penthouse for $3.8 million.</div>
</div>
<div class="in-content-ad"> </div>
<div class="in-content-ad">The Block judge Neale Whitaker lost $170,000 on his stylish Alexandria apartment when selling for $1,535,000 earlier this year. He bought on completion in the SJB Architects &amp; Interiors designed Birmingham Street block for $1,705,000 in 2016.</div>
<div class="in-content-ad"> </div>
<div class="in-content-ad">"Disappointed of course but market forces and market forces," Neale tweeted after its unsuccessful auction.</div>
<div class="in-content-ad">
<div>  </div>
</div>
<div class="in-content-ad">Flipping is now a tricky tactic in property. The art collector John Scheaffer took a direct $100,000 loss on Bonnignton, the Tudor, English-style manor in Bellevue Hill that he bought for $20.5 million in February.</div>
<div class="in-content-ad"> </div>
<div class="in-content-ad">After a quick makeover, where he <span>removed old carpet, restored timber floors and replaced electric switchboards and lighting during his very brief ownership.</span> Schaeffer could only secure $20.4 million at its recent auction.</div>
<div class="in-content-ad">
<p>Charles Tarbey, chairman of Century 21 Australasia noted people taking losses in the current property market might be forced sellers, or parties looking to downsize or upsize.</p>
<p>"Taking a loss may not be a huge concern for some so long as they are buying in a market that has also experienced comparative declines in property prices.</p>
<p>"However, many markets are still experiencing property price growth so these groups should be conscious of that and look to do their research," Tarbey stressed.</p>
<div>
<div>
<p class="first-para">Jade Guven, the wife of the property developer Savas Guven, sold her Bayview abode for a $450,000 loss.</p>
<p class="first-para">Having paid $3.7 million, the luxury four bedroom home sold seven months later for $3.25 million.</p>
At Clovelly fitness entrepreneur Jacinta McDonell, who co-founded Anytime Fitness in Australia, sold her <a href="https://www.realestate.com.au/sold/property-house-nsw-clovelly-129021086" target="_blank">Clovelly project for a $350,000 loss</a> last month (below).</div>
<div> </div>
<div><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/11/12/seaview-clov.jpg" alt=""></div>
<div> </div>
<div class="in-content-ad">She didn't get round to developing the duplex-style Federation that was made up of two two bedroom apartments. She just sold for $3.12 million, having paid $3.47 million last November.<a href="https://www.realestate.com.au/sold/property-house-nsw-clovelly-129021086" target="_blank"></a>
</div>
</div>
<div class="in-content-ad"> </div>
<div class="in-content-ad">BresicWhitney director Shannan Whitney says the idea of ‘list it and they will come’ has evolved into a new dynamic.</div>
</div>
<div class="in-content-ad">
<div>
<p>“Pricing ethos has been mainly focused on finding a price in line with comparable sales. </p>
<p>"Now it’s about finding a price that ensured you will engage a reluctant buying market.”</p>
</div>
<div>Whitney recently advised clients "the current property climate is testing emotions all over Sydney."</div>
<div> </div>
<div>"At the heart of it, plenty of people have been, mostly unintentionally, set up for failure," he noted.</div>
</div>
<div class="in-content-ad"> </div>
<div class="in-content-ad">Hardly off a cliff, but Nathan Lyon had to revise his price hopes on his Vaucluse investment apartment.</div>
<div class="in-content-ad"> </div>
<div class="in-content-ad">
<div>Local agent Brad Pillinger sought more than $1.2 million initially, but the three bedroom apartment would later see it passed in on an $1.1 million vendor bid.</div>
<div> </div>
<div>Lyon ended up selling for $1,085,000, having paid $1.1 million in 2015.</div>
<div> </div>
<div>Even vacant land blocks are heading backwards.</div>
<div>
<p>A vacant block of land at Menai in the Sutherland Shire has sold for $955,000, going backwards on its sale last year.</p>
<p>The 818 sqm building block in Anderson Ridge, one of the Shire's new estates, fetched $980,000 in 2017.It took 111 days to sell, with the price revision to $1.02 million prompting a sale.</p>
<p>The block at 39 Anderson Place first sold for $640,000 in 2015 when bought from the developer.</p>
</div>
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<p>Sydney's largest losses were in the 1990 recession when one Point Piper harbour front house fell from its record $11.5 million peak in 1987 back to $6.1 million and then $5.25 million over a five year period.</p>
<p>Terry Ryder at Hotspotting website says a<span>nyone who has owned for a few years will still be selling for a decent profit in Sydney.</span></p>
<p><span>"<span>The only people taking losses in Sydney should be people who bought recently and, for whatever reason, need to sell in a hurry," Ryder advised.</span></span></p>
<p>This article was first published in the Saturday Daily Telegraph. </p>
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jchancellor-FAypfDUnLy

Orderly downturn sees $500,000 losses taken at Sydney top end residential

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<p>The latest CoreLogic Pain &amp; Gain report had 20.1 percent of Perth homes resold at a loss, while in Darwin, 24.2 percent of homes resold at a loss; the highest proportion since December 2002.</p>
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<p>Across the remaining capitals, the proportion of loss-making resales was: Sydney 2.4 percent, Melbourne 4.4%, Brisbane 8.4%, Adelaide 10.6%, Hobart 10.8% and Canberra 9.6%.<br><br>Across the regional markets, the proportion of loss-making resales increased in New South Wales, Victoria, Queensland and Western Australia, and was unchanged in South Australia.</p>
<p>Across the individual areas, the proportion of resales at a loss were recorded at: 7.3% in regional NSW, 9.3% in regional Vic, 19.8% in regional Qld, 21.7% in regional SA, 33.8% in regional WA, 19.6% in regional Tas and 21.2% in regional NT.</p>
<p>The report uncovers the profits earned and the losses made from property sales over the June 2016 quarter, and reveals which locations have been the most valuable for investment.</p>
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<p>Based on the June quarter findings, 5.9% of capital city houses resold at a loss, up from 5.7% from the March 2016 quarter while units at 9.5% resold for less than the previous purchase price. Across regional housing markets, 12.2% of houses &amp; 19.9% of units resold over the June 2016 quarter transacted below previous purchase price.</p>
<p>Regional areas experienced the highest proportion of total resales at a loss since the three months to August 2015 for houses and the three months to February 2016 for units.</p>
<p><strong>Capital Cities Losses &amp; Profits:</strong></p>
<p>• $164,239,771 in losses from resales of capital city houses = $94,926 on average;<br>• $87,017,927 in losses from resales of capital city units = $67,456 on average;<br>• $9,953,211,125 realised for resale profit for capital city houses = $363,442 on average; <br>• Total resale profit for capital city units - $2,828,164,261 = $229,596 on average.</p>
<p><strong>Regional Areas Losses &amp; Profits:</strong></p>
<p>• $139,475,875 worth of house resold at a loss = $64,423 average loss<br>• $68,199,797 units resold at a loss = $61,944 average loss<br>• $2,400,837,922 in profits realised for houses = $154,773 on average<br>• $475,731,130 in profit realised for units across regional areas = $107,680 on average.</p>
<p>CoreLogic researcher Cameron Kusher said while loss-making resales increased over the quarter, historically, most cities are still seeing quite a low instance of homes reselling at a loss.</p>
<p>"However, Perth and Darwin are the exceptions with the proportion of loss-making resales at, or close to historic highs.”</p>
<p>Around the country, the proportion of loss-making resales over the quarter increased across each capital city excluding Melbourne and Canberra.</p>
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Perth's loss taking property sellers at 20 percent: CoreLogic

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<p><span>The amount of homes nationwide sold at a loss is lower than the post financial crisis peak, according to the recent<span> CoreLogic RP Data Pain &amp; Gain report</span>.</span></p>
<p><span style="line-height: 1.3em;">The report, covering the March 2015 quarter, found Perth and Darwin had a 'rapid' lift in the rate of loss-making resales over the last few months, noting this is similar in broader housing market conditions where rental rates are reducing and listings are rising.</span><span style="line-height: 1.3em;"><br></span></p>
<p><a href="/images/2015/06/23/700_pain1.jpg" target="_blank"><span style="line-height: 1.3em;">Click to enlarge</span></a></p>
<p><span><img src="/images/2015/06/23/700_pain1.jpg" alt=""></span></p>
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